₦airaland Forum

ip2121918021:
IF they withdraw 1k and N500 notes, wetin go remain

you still have N200 an below.

To cement this new policy, the CBN needs to withdraw N1,000 and N500 notes from circulation immediately.

obitobe:
#THE HIDDEN TRUTH*
I think we the participants should be wise not to be fooled any longer. The major setback in MMM is guiders bonuses. Guiders PH is usually not up to 1% of their total GH per time. They sucked MMM dry and check it out, anyone that says keep Phing no matter what, must be a guider. They dont care what happens, all they know is ph let me get more bonuses. They enrich themselves with our PH n still want to suck more from us. If this isnt true, let MMM cancel every guiders bonuses due for GH and see the reactions . Imagine a guider ready to GH 10Million naira, all guiders bonuses, how on earth do u think the system can survive with this. Imagine thousands n millions of guiders ready to GH this amount and even more. With this, i bet u, we may just be dreaming of MMM paying us. We know the truth, cancel all guiders bonuses and see how fast MMM would bounce back. Referal bonuses are enough for everybody. Treat everyone equally and get a fair n sustainable system. When these guiders talk about greed, i laugh, who is greedy? One who accumulates millions as bonuses or the common participants that only gets 30% of whatever he puts in? Lets keep deceiving ourselves n see where this will land us all. Even if withdrawal limits are set as a new model, it is still same problem as these guiders will always loot the system with their elephant share. The worst is, what do most of these guiders do?
90% obviously do nothing. They don't merit a dime.
U preach ph and ideology as if we are illiterates. The poor participant already has his spare money paid out n awaiting withdrawal, u say he should bring another spare money, from where?
This is simply extortion and not MMM ideology.
As simple as ABC, all guiders bonuses should be cancelled as a new model and believe me, participants work better than guiders(glaring truth). Everybody should be granted referral bonus only.
MMM would have ph-gh balanced by doing this and more members wil join by more referals.
Well, if u re a guider reading this, u obviously would be pissed off cos u know how true this is, and the truth is always bitter to absorb.
Whatever happens to MMM lies solely in the greedy hands of so-called guiders

you still dont get it do you? schemes like this are not sustainable, you are giving out values that you have not created (30% bonuses) no matter what you do it will crash. its not a question of guiders or mavros or whatever you guys call it, the system is not sustainable. that 30% you are paying yourself is artificial even if it is 1% it will still crash as long as value is not created in the functions of the scheme. what you are doing is using john's money to settle james, its not an investment its a ponzi.

The chances of MMM surviving and you getting your money back is equal to the chance that zamfara united will win the English premier league this year.

let that sink in retard!

Following the bursting of the housing bubble in mid-2007, and the housing market correction and subprime mortgage crisis the following year, the United States entered a severe recession.

The National Bureau of Economic Research (NBER) dates the beginning of the recession as December 2007. According to the Department of Labor, roughly 8.7 million jobs were shed from February 2008 to February 2010, and GDP contracted by 5.1%, making the Great Recession the worst since the Great Depression. Unemployment rose from 4.7% in November 2007 to peak at 10% in October of 2009.[1]

The bottom, or trough, was reached in the second quarter of 2009 (marking the technical end of the recession, defined as at least two consecutive quarters of declining GDP).[2] The NBER, dating by month, points to June 2009 as the final month of the recession.

The recovery after the 2009 trough was weak and both GDP and job growth erratic and uneven. A solid, strong pace of job growth was not seen until 2011.[3] As of August 2015, the unemployment rate is 5.1%,[4] below the historical average of 5.6% but still barely above the 5% when the recession started in December 2007, with roughly 12,639,000 jobs added since the Great Recession's payroll trough in February 2010.[5] American household net worth fell from a pre-recession peak of $68 trillion in Q3 2007 to $55 trillion by Q1 2009,[6] while real median household income fell from $56,436 in 2007 to $51,758 by 2012.[7] The poverty rate increased from 2006 to 2010, reaching a peak of 15%, and held there through 2012 before dropping to 14.5% in 2013.[8]


look at the number of years it took America to get out of their recession, and you are expecting miracles from buhari! be fair please.

Ugosample:
And you think this herdsman can navigate us out of this mess

Very funny.

I am sure he will give it his best shot. his government has the essential ingredient needed; PRUDENCE.

When Moses was taking the Israelite out of Egypt, they wailed more than this, what PMB is doing is for your own good but impatience/bigotry/economic illiteracy will not allow you peeps appreciate the sacrifice being made for you.

Nigerians need to get it in their head that they are in recession cos of financial crisis, crude oil prices more than halved, you have no savings and you have a huge pile of debt you are servicing, no economic genius can get you out of this crisis over night. what you are experiencing right now is a culmination of years of mismanagement, except you want to lie to yourselves (i know you guys enjoy doing that) you are not getting out of this any time soon except of course you want to dig us further in to the hole and postpone the evil day. what we need right now is to carefully navigate ourselves away from this crisis by being prudent with our lean resources and make investments in structures that we help diversify our economy.

shadeyinka:
Nigerians expect some miracles from CBN which is impossible. CBN has the power to monitor the Naira but they have no power to regulate the REAL value of the Naira.

The real Naira value is determined by the ratio of Dollar Earned: Dollar Demand by the Nation.

Naira valuebwill be low if Dollar Demand is high.

The only way out is to either make more Dollar income or Reduce Importation.

Reduction of importation requires upgrade of local MANUFACTURING CAPABILITY!

I rest my case!

you nailed it bro. but the wailers are not interested in facts. what we are facing now is a culmination of years of mismanagement. people say we should diversify our economy as if you can do that over night, you need at least 8 to 10 years to diversify an economy, i beg what agricultural commodities do we have to sell that can bring in AT LEAST 300billion naira monthly to cancel the shortfall we have now due to the fall in crude prices? SOME OF THEM WANT TO SOUND INTELLIGENT BY SAYING THIS GOVT DOES NOT HAVE AN ECONOMIC POLICY, I BEG IF YOU HAVE AN ECONOMIC POLICY THAT CAN GET US OUT OF THIS CRISIS"OVER NIGHT" STATE IT HERE. LET US DISCUSS IT.

Holyman3:
If it comes to what?
What has it not come to?
The level of foolishness I see in Nigeria is way above human comprehension.

if it comes to the CBN bailing out banks they will, CBN just pumped a 100 billion into skye bank last week.

so what level of foolishness do you see in Nigeria?, you need to purge yourself of hate, it beclouds your sense of judgement. stop criticizing for criticizing sake, the Nigerian govt does not need to spoon feed banks, all the years that the govt funds have been in banks what has the economy really benefited from it, not talking of individuals, i mean what has the economy really benefited from it?. what is the sense in govt keeping trillions in banks only to issue out treasury bills(that it pays interest on) to mop up its own cash? what is the sense in govt MDAs having fixed deposits in commercial banks while we cant fund projects? do you know how that this deposits are operated for the benefits of the public finance directors and not the common wealth? YOU NEED TO GROW UP.

plaetton:
If you greatly diminish the money/credit- creating abilities if banks in a generator economy such as we have, then you have Nuked the entire economy.
Daahhhh!!
That's my point.

Which slowpoke drains the banking system of credit - creating abilities at a time of economic recession, when
every major economy, economies more robust and diversified that ours, are doing the exact opposite by pumping as much liquidity as possible into the economy via the banking system?

All this while that the government fund has been in the banking system, has the country developed? you talk as if there are no other windows open to the banks to create money. what you need to get out of recession is to spend on capital projects to reflate the economy, this has nothing to do with the TSA. If you know what people in government do with these funds when they were with commercial banks you will appreciate this policy.

tempem:
But, they both have central conclusion.

Evolutionist never believed we were created.
Atheist never believed there is a God.

Isn't that the fact?!

we have theists who believe evolution was guided by a god. its not only atheists who believe in evolution.

Evolution has nothing to do with atheism.

i like it when Christians and muslims fight, they see each others irrationality and idiocy, we atheists see the madness on all sides.

plaetton:
Fair enough.
But as a banker, you should know that all the major banks have bad, even fraudulent loans in their portfolios.

All banks are highly leveraged to varying degrees.
But it takes a catastrophic event like the TSA implementation, the sudden withdrawal of about 3% equivalence of the nation's GDP from the banking system, to set off a rolling cascade of banking crisis and failures.

Consider that in 2008, the US Treasury had to pump in the equivalence of about 4.5% of its GDP into the banking system to save both the entire US economy and entire world from total economic collapse.

Now, imagine doing the exact opposite in Nigeria, a monoproduct economy, a generator economy, already tethering on the brink.
Look at it that way, and see the utter foolishness of that TSA implementation.

if it comes to that in nogeria, the nigerian govt wil do same, recall that Amcon bought over 3 trillion naira toxic debts in our banks a couple of years ago. Dont worry yourself about the banks , they will survive.

amaechi1:
There has been so many argument concerning the implementation of TSA. Some are for "for" and some for "against". Some has argued that the timing was wrong and some the time was right. Couple of days back, an elderly man with grey was on a national TV criticizing the government and they not done anything in last one year. When asked by one of the presenters what was his opinion in the implementation of TSA as way to checkmate leakages and corruption. He turn around to say, that the timing for implementing the TSA was wrong.
I then myself and other around me, if TSA will block leakages and corruption, are there better time to fight corruption? Everyone around was confused and short of word. I beg for response. One of my friend was bold enough to say the time to start in now.
Secondly, as a nation how many account is Nigeria allowed by the constitution to have. One or Many?

Please, I beg for knowledge.

the federal government is not supposed to be spoon feeding banks, people are just criticizing for criticizing sake, the withdrawal of government funds will only diminish the money creation abilities of banks it wont kill it, there other windows the bank can access to create money. i am a banker and i know what our public finance guys do with our common wealth. no bank is going to collapse because of TSA.

plaetton:
TSA nuclear bomb.

The fallout has began.

One bank down, many more to go.

https://www.nairaland.com/3205466/cbn-sacks-skye-banks-management

skye bank is not having problems because of TSA. The problem of skye bank stems from insider loan abuse, that is why the entire BOARD HAD TO RESIGN.

I KNOW BECAUSE I WORK WITH SKYE.

As an ex-Muslim atheist this were some of the issues i find troubling, there is also Ubaiydullah ibn Jash who was the first cousin of the prophet, how could they have been named after a pagan allah? also, why should the Kaaba maintan a prominent place in islam? the most reasonable thing ought to be for the Kaaba to be destroyed since it was a pagan monument. the prophet even went round the kaaba in worship (WHILE THE IDOLS WERE STILL IN THE KAABA) after the muslims defeated the makaans in batttle.

UyiIredia:
Even though we have testimonies of people who have seen an afterlife in near death experiences.

but we have never had testimonies from people who have been dead for say 20 years.

neihzar:
As an atheist, what is your own concept of life after death?

what is your concept of life after the death of a mosquito? or a chicken for instance?

ValentineMary:
It's just clever tricks. The more u look the less u see I once treated a course on pharmacology anf I can tell u that those things are not spiritual just physical stuffs that has been kept a family or cult secret. You would also notice that under controlled conditions, those shit don't work. Why because they are just tricks.

quite true. for me, nobody i repeat nobody has any supernatural or extra ordinary powers, they just know some tricks that you dont shikena!

why do people take stuff that happen to jews as universal truth? how could it have been possible that only one jew named Noah and is family were righteous on earth? The Noah story is just another myth with no evidence to back it up. if yaweh was serious and he wanted this story to be believable he would have preserved Noah's arch to serve as testimony and as incontrovertible evidence. think about it all bible claims are nnever backed up by evidence, something rather convinient happens to the evidence;
Tower of Babel, no evidence
Noah's arch, no evidence
Ten commandment tablets, no evidence
arch of convenant, no evidence

you are free to add to the list.

Justdulla:
Lemme tell you why there were various wars during the prophets time. The main religion were idol worship in Arabia and paganism. This unbelievers didnt believe in Islam and were always looking for ways to suppress and ruin the religion,they loved receiving usury,eating forbidden things and fornicating et al. They waged war against islam because it brought a different message and didnt support their vices. So the prophet fought back...lemme tell you the only reason a fellow muslim has to fight another man today,any person that uses another excuse is a counterfeit muslim. If any man prevent you or prevails upon you from practising your religion i.e Islam, you have the right to fight him..i would have written some texts to support this statememt..but currently engaged..prolly kayer

surely Allah who created the universe and everything therein could have established his religion through peacefull means, instead of making his prophet wage wars on unbelievers. You just confirmed my ealier assertion that islam was founded on violence.

annunaki2:
Ok thanks. So why atheism and not agnostic or even deism.

Hmmmn! whats the diffrence reallly? they all agree that deities dont exist abi? being atheist means i get to throw away any kind of mombo jombo BS. Personally i think deists are just trying to create a "special god/creator" for themselves, what is the point in doing that? as far as i am concerned an inpersonal god is inconsequential.

annunaki2:
Can you share with us your deconversion experience from islam to atheism?

Nothing spectacular, the information highway helped a lot. i am a thinker with a voracious appetite for info/knowledge.

afrovist:
i'm an ex christian atheist what is it about the quran or islam tham makes it prone to violence? i really wanna know

also to the islamic people are the boo haram, isis people a particular sect eg sunni......

islam was achieved and birthed by fighting wars, the prophet and founder of islam and its holy book even describes how war should be fought. what is war? war is violence. that is why i said the foundation of islam is violent. Today, muslims still refer to this texts and believe violence is the only way to achieve their goals.

Being an ex-muslim atheist, i can confidently tell you that islam has never and will never be a religion of peace, the foundation of islam is violent that is why the religion is having problems with mordern civilization today.

CAPSLOCKED:
AND THE DOVE FLEW FOR HOURS THE FIRST TIME IT WAS SENT OUT, AND DID PERCH ANYWHERE? DOVES THAT CANT FLY FOR A LONG TIME.
THE STORY IS EVEN BECOMING SHITTIER!



SO THE DOVE CIRCUMNAVIGATED THE WHOLE WORLD BUT CAME BACK EMPTY HANDED, FROM NOAH'S LAND TO AMERICA, TO AFRICA, EUROPE, ASIAN, TO AUSTRALIA... AND DIDN'T EVEN REST OR EAT AS EVERY WHERE WAS FLOODED. DO YOU KNOW HOW MANY HOURS IT TAKES FOR A PLANE TO GO FROM CHILE TO ADELAIDE? PLUS THE PLANE HAS TO STOP MIDWAY TO REFUEL!


KAI I THINK THIS NOAHS STORY IS THE LAMEST IN HISTORY. THE AUTHOR OF GENESIS WAS TOO BUSY SMOKING HIS GANJA HE HAD TO GIVE THIS PROJECT TO HIS 2 YEARS OLD SON!

most of the stories in dem religious books are actually infantile and silly when closely scrutinized! narrate some of the stories to 7year old kids and ask if they believe its true, you will be supprissed. question is, why do adults believe those stories if kids dont?

We apply logical reasoning to every other thing but not religion, question is why do we not apply logic to religion?
answer; religion is not logical!
question; why is religion not logical?
answer; cos religion is by faith.
question; what is faith?
answer; faith is believing in stuff without evidence!

Is it the same god that you guys have been praying to for boko haram? This your god only solves easy problems.

Hmmm! One of the "holy" books lied!

Whoever GEJ choses to replace Jega still has to be confirmed by the senate.

We are waiting for him there, just like OBJ met his waterloo on the 3rd term saga. Checks and balances makes democracy sweet.